Mantle Mining Corporation has returned high grade gold hits up to 24.9 grams per tonne from drilling at a prospect at the Granite Castle Gold and Silver Project in north Queensland.
The best intercept from the Coronation prospect was in a drill hole targeting a major induced polarization anomaly and returned 3 meter at 10.9 gram per tonne gold and 153 gram per tonne silver from 149 meter including 1 meter at 24.9 gram per tonne gold and 230 gram per tonne silver.
Nearby holes also intercepted good grades such as 1 meter at 5.2 gram per tonne gold from 23 meter and 3 meter at 2.3 gram per tonne gold from 43 meter including 1 meter at 6.4 gram per tonne gold.
Another drill hole intercepted 1 meter at 7.4 gram per tonne gold from 58 meter, 1 meter at 9.1 gram per tonne gold from 96 meter and 2 meter at 2.3gram per tonne gold, 2.2% zinc, 750 parts per million copper and 4580 parts per million lead from 141 meter.
Importantly, the intercepts correlate extremely well with historic rock chip sample and drilling results that range from 5 gram per tonne to 25 gram per tonne gold from surface to 120 meter deep.
The induced polarization data also directly correlates with the Granite Castle JORC resource of 79,000 ounces gold and 1.5 million ounces of silver in a 600 meter length of the shear and down to 130 meter vertical depth.
The latest drilling and induced polarization data indicate the Coronation shear could be a larger and richer structure than the Granite Castle shears.
More drilling next year could lead to a doubling, or even quadrupling, of the resource base at the Granite Castle project.
Significantly both shears remain open at depth, and there remain others yet to be tested to equivalent levels.
Granite Castle
The Granite Castle Project is Mantle's most advanced gold project, and contains two major project areas, Granite Castle and Tag Alley.
The project contains a large swarm of gold silver mineralized shears with over 14 kilometer identified to date. This includes a JORC resource contained within a 600 meter portion of 1 shear however the shear itself can be traced on surface for over 1 kilometer to the west and 200 meter east of the resource.
Currently, Mantle is preparing an application for upgrade to a Mineral Development License at the project.
As part of that work, the company intends to undertake a Scoping Study of development options and appropriate next steps for further drilling and pre feasibility work.